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Petrol Price in New Delhi (22nd November 2017)

Petrol prices in Delhi are now changing everyday, as against every 15 days before. We are providing daily petrol price rates, so you can check the same on goodreturns.in

Petrol Price in New Delhi Today (Applicable from 6 am)

Last 10 Days Petrol Rate in New Delhi

Date Price Price Change
Nov 21, 2017 ₹ 69.53 ₹ 0.02
Nov 20, 2017 ₹ 69.51 ₹ -0.03
Nov 19, 2017 ₹ 69.54 ₹ -0.03
Nov 18, 2017 ₹ 69.57 ₹ -0.04
Nov 17, 2017 ₹ 69.61 ₹ -0.04
Nov 16, 2017 ₹ 69.65 ₹ -0.03
Nov 15, 2017 ₹ 69.68 ₹ -0.05
Nov 14, 2017 ₹ 69.73 ₹ -0.05
Nov 13, 2017 ₹ 69.78 ₹ 0.00
Nov 12, 2017 ₹ 69.78 ₹ -0.03

Daily & Monthly Petrol Price in New Delhi : Graphical Representation

Historical Petrol Price in New Delhi

  • Trend of Petrol Rate in New Delhi, October 2017
  • Petrol Price
    1 st October Rs.70.76
    31st October Rs.69.13
    Highest rate in October Rs.70.88 on October 3
    Lowest Rate in October Rs.68.26 on October 16
    Over all performance Falling
    % Change -2.36%
  • Trend of Petrol Rate in New Delhi, September 2017
  • Trend of Petrol Rate in New Delhi, August 2017
  • Trend of Petrol Rate in New Delhi, July 2017
  • Trend of Petrol Rate in New Delhi, June 2017
  • Trend of Petrol Rate in New Delhi, May 2017

The advantage of doing that is you know when to fill petrol and make maximum use of falling petrol prices. In any case Delhi petrol rates are much lower then some of the other cities in India. It also sets the trend for an increase or decrease in rates in various other cities of India. The rates would be largely determined by the largest oil marketing companies in India, that is Indian Oil, Bharat Petrolem and Hindustan Petroleum. You would do well to check the rates given the fact that if you fill same about 30 to 40 litres petrol you could tend to lose a lot. Now that petrol prices in Delhi have been dergulated like many other cities in the country.

How are petrol prices in Delhi determined?

Petrol rates in Delhi largely depend on how international prices of crude oil move. It is largely linked to international crude prices, which trade abroad. There is also an India crude basket, which largely determines the prices of Petrol in Delhi. It is always advisable to check the petrol prices, if you are planning to fill your automobile to the brim. A small change in rates can be mean a lot when you have larger volumes of diesel or petrol to fill. Diesel prices in Delhi also more or less move in a smilar way.

 

Petrol price marginally high in Delhi

The current petrol price in Delhi was last seen at Rs. 68.40 per liter. The latest change in Delhi petrol price was on October 20, 2017, and it increased by 0.07 paise.
From the last two weeks, petrol price in Delhi has changed from Rs. 68.48 per liter to Rs. 68.40 per liter. We can see a small variation in the price in paisa only. According to the international market today crude prices which increased impacted Delhi petrol prices. Petrol rates in Delhi are always low, while other metro cities see a variation in state government tax as the central government tax is standard for all places.

Petrol prices steady in Delhi

Cues from the global crude oil market saw petrol prices in Delhi being stable. Petrol is one of the commodities that has an inelastic demand in Delhi. Petrol price in Delhi chnages daily, as against the earlier practice, where the change was reflected every 15 days. In the last few months, we have seen petrol prices increasing. Petrol price in Delhi in the month of the Aug end was Rs. 69.15 and in the month of Sept it was as Rs 70.66 per liter. After seeing a high price in Delhi, the central government of India announced to cut basic excise duty on petrol and diesel. After this announcement, the petrol price in Delhi has dropped to Rs. 2.50 per liter. In the beginning of Oct, the rates in Delhi was Rs.70.76 per liter, and it reduced to Rs.68.45 per liter.

Petrol prices in Delhi up a tad bit

Petrol prices in Delhi inched higher, as global prices for crude firmed. Prices of petrol in Delhi have a direct corelation with international crude prices, which are benchmarked to the international crude basket.

Prices of petrol in Delhi have now fallen to Rs 68.39 per litre. This was a marginal gain of 4 paise over the weekend. The government had recently reduced the excise duty on petrol, which made the prices of it more cheaper in Delhi. There was an almost Rs 2 drop in the price of excise. This was after petrol prices in several cities had rallied to a three year high. Taking complete cognizance of the fact, the government had reduced the prices of petrol. This is good news for consumers, which have been reeling under heavy increase.

Overall, prices may continue to see higher levels, if crude prices in the global marets inch higher. Some analysts see crude prices gaining in the coming days.

 

 

 

Petrol rates down in Delhi

The price mechanism of petroleum products in India is based on Trade Parity Pricing method. This system is mainly based upon the difference in import and export of crude oil from our country. Whatever the difference is, it is considered to be the net cost, calculated regarding per liter and then sold to all the states. Since all the states follow a different duty structure, the price of petroleum differs in every state in India. Mainly the presence of Excise and VAT tax influence the disparity in pricing. Since Delhi is a Union Territory, there exist no additional taxes as it is under the direct control of Central Government. The petrol price in Delhi is decided by the market forces, though central government, decides levies. The central government announced on Tuesday it has cut excise duty on petrol and diesel by Rs 2 a liter to tame rising inflation and to shield consumers from the surging price of auto fuels. The current petrol price in Delhi is 68.38 Rs/Ltr.

Petrol rates in Delhi steady

Petrol prices in India have two components, one is due to global crude oil prices, and one is due to taxes by the Indian government. More demand for petrol than supply.India is the 3rd highest oil importer, the cost of expenditure on oil imports are very high. That has lead to inflation. Also, the value of Indian rupees is decreasing in value to the US dollar. So, our Oil companies are paying more for the same quantity of crude oil. High demand for oil due to the huge population of India is the primary reason for an increase in the prices of oil. There are different reasons to increase the petrol prices in Delhi . The price of crude oil is set according to the oil-producing nations like the Gulf countries. From the past one week, the petrol prices in Delhi is slightly changed. The current petrol price in Delhi is Rs.70.47

OMCs may have to absorb petrol prices hikes

The government is looking at the possibility of asking oil marketing companies, more popularly known as OMCs to aborb any additional hike in petrol prices. In Delhi petrol prices have seen a very steep increase of almost Rs 7 in the last three months. This has not gone down well with consumers. This means that petrol rates in Delhi have now surged to the highest level in eight months and it is beginning to pinch the consumer. Earlier this year in June, the government dumped the practice of revising interest rates every fortnight as prices of the crude oil was very volatile. In line with petrol rates in Delhi, diesel prices to have surged, elevating the risk of inflation. While it was felt that the daily price revision may enable people absorb the shock, the current sharp increase is not good news for consumers.

Delhi petrol prices see constant rise in Delhi

In India, the petrol price changes daily and with international crude oil price. Fluctuation in crude oil prices globally is having an impact on the retail price of petrol and diesel in Delhi daily.
The main factors that are affecting petrol prices in India is taxes along with levies. Petrol users are paying more towards taxes than the actual cost of the product.Nearly 57 percent price of a liter petrol goes towards excise, VAT, and dealer margins. Rise in crude oil prices in the international market is one major factor responsible for the rise in petrol prices in Indian domestic market. Strong economic growth of India and other developing countries in Asia have increased huge demand of petrol, and other related essential fuels rose price hike in petrol in India.
There are different petrol prices for the various states in India.In Delhi, due to these reasons the petrol price slightly increased in paisa in Delhi. The price now has crossed the Rs 69.66.

Understanding Petrol Pricing in Delhi

We know that the movement of the petrol prices in Delhi will affect almost everyone in one or the other way. So it is essential to have an understanding of its pricing. Before, the prices used to change once every two weeks but now it changes on a daily basis. There are three major factors on which the petrol price in India depends and those are

Retail Selling Price (RSP)
Refinery Transfer Price (RTP)
Taxes

Retail Selling Price (RSP) - RSP is decided depending upon few factors such as the average pricing of Crude Oil of the Indian Basket,and this price is calculated in Dollars per barrel. As it is priced in Dollars, Dollar price on that specific day will also affect the petrol price in India.

Refinery Transfer Price (RTP) - Refinery transfer price is also charged which means oil marketing companies will be paying some price to the refineries and that will be charged and also the transportation costs will be charged that is one of the reason the petrol price in Delhi will be different from city to city.

Taxes - There are various taxes on the petroleum products such as excise duty which will be imposed by the central Government, VAT few other taxes including Delar commission will be charged in the petrol price we pay.

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